Factbook : First Quarter of 2023（688KB）

Factbook

First Quarter of Fiscal 2023 [January 1 to March 31, 2023]

Actuating Your Dreams

Contents

【 Consolidated Data 】
Sales & Profit ---------------------------------------------------------------------------------------------	2
Assets, Liabilities and Net Assets --------------------------------------------------------------------	3
Cash Dividend per Share ------------------------------------------------------------------------------	3
Capital Expenditures and R&D Expenses ----------------------------------------------------------	4
Number of Employees ---------------------------------------------------------------------------------	4
Motor Sales / Motor Sales Quantity --------------------------------------------------------------	5,6
Manufacturing Quantity of Motor -------------------------------------------------------------------	6
Stock Information ---------------------------------------------------------------------------------------	7
Consolidated Subsidiaries -----------------------------------------------------------------------------	8
Corporate Profile ----------------------------------------------------------------------------------------	8

Factbook Q1 2023

1

Sales & Profit

						Net Sales										■ Gross Profit	-◆- Gross Profit Ratio
（Millions of yen）										（Millions of yen）
						42,657	42,137	38,817	20,000																32%
										26.0%
40,000					36,731													25.2%
		35,179
																23.9%
30,000											15,000					20.4%							22.8%			24%
											9,151			10,181	10,628
											10,000									8,838			16%
20,000														7,501
										5,000														8%
10,000
0												0																	0%
			'22.Q1		'22.Q2	'22.Q3	'22.Q4	'23.Q1					'22.Q1		'22.Q2		'22.Q3		'22.Q4		'23.Q1

• Operating Income -◆- Operating Income Ratio

（Millions of yen）			8.4%											（Millions of yen）
7,500						8.1%							9%	15,000
	7.7%
5,000											4.7%			6%	10,000
				3,590
			3.1%		3,396
		2,704
2,500												3%	5,000
									1,819
		1,132
0													0%	0
	'22.Q1	'22.Q2	'22.Q3		'22.Q4	'23.Q1

• Ordinary Income -◆- Ordinary Income Ratio

20.5%

		18.0%			21%
14.0%
				10.4%	14%
	7,522	7,666
4,924
			3.2%	4,049	7%
			1,359
'22.Q1	'22.Q2	'22.Q3	'22.Q4	'23.Q1	0%

			Profit attributable to owners of parent										Profit per Share
（Millions of yen）			5,817							（Yen）
6,000										100
			5,367
													90.00
												83.06
4,000											75
						3,448
																	53.35
3,058									50		46.97
2,000
										25
						52													0.81
0												0
		'22.Q1		'22.Q2	'22.Q3	'22.Q4	'23.Q1				'22.Q1	'22.Q2		'22.Q3	'22.Q4	'23.Q1

Unit : Millions of yen (YOY)

Fiscal Term	2022.Q1	2022.Q2	2022.Q3	2022.Q4	2 0 2 3 .Q 1	2022 Full Year	2023 Projection
		%		%		%		%		%		%		%
Net Sales	35,179		-0.8	36,731		8.5	42,657		33.1	42,137		26.7	38,817	10.3	156,706	16.4	173,000	10.4
Gross Profit	9,151		-13.1	7,501		-15.8	10,181		22.8	10,628		22.4	8,838		-3.4	37,462		2.9	45,300		20.9
Operating Income	2,704		-48.4	1,132		-66.7	3,590		45.4	3,396		26.6	1,819		-32.7	10,824		-21.6	15,000		38.6
Ordinary Income	4,924		-32.7	7,522		69.3	7,666		103.3	1,359		-66.3	4,049		-17.8	21,473		9.7	16,800		-21.8
Profit attributable to owners of parent	3,058		-46.9	5,367		96.0	5,817		136.1	52		-98.4	3,448		12.7	14,295		0.3	11,900		-16.8
Profit per Share (Yen)	46.97		-46.3	83.06		99.6	90.00		140.3	0.81		-98.4	53.35		13.6	220.79		1.9	184.12		-16.6
Gross Profit Ratio ( % )	26.0			20.4			23.9			25.2			22.8			23.9			26.2
Operating Income Ratio ( % )	7.7			3.1			8.4			8.1			4.7			6.9			8.7
Ordinary Income Ratio ( % )	14.0			20.5			18.0			3.2			10.4			13.7			9.7
ROIC ( % )	-			-			-			-			-			4.1			-
ROE ( % )	-			-			-			-			-			5.3			-
ROA ( % )	-			-			-			-			-			7.2			-

Figures for ROIC, ROE and ROA are for annual results only.

ROIC = (Operating profit × (1 - Effective tax rate)) / (Accounts receivable-trade + Inventories + Non-Current assets (excluding Investment securities) - Accounts payable-trade)

2	Factbook Q1 2023

Assets, Liabilities and Net Assets

									Inventories																■ Current Assets		■ Current Liabilities
（Millions of yen）			65,176														（Millions of yen）
									64,290
										61,394		60,650			250,000
60,000						56,562
																																		206,351
																														202,614					200,554
40,000																						200,000				187,258															1 9 6,756
																					150,000
20,000																						100,000
																					50,000
																							18,478	21,095			20,724	21,442					1 7 ,782
0																						0
						'22.3	'22.6		'22.9				'22.12		'23.3									'22.3			'22.6				'22.9		'22.12			'23.3
									Total Assets																		■ Net Assets			-◆- Equity Ratio
（Millions of yen）																		（Millions of yen）
400,000																						400,000						91.7%				91.7%					91.9%				91.0%					92.0%				100%
									312,000		317,040
											307,786		308,066
						292,094														286,098			291,362								283,622
																											280,175
300,000																				300,000					267,979								75%
200,000																						200,000																																				50%
100,000																						100,000																																				25%
0																						0																																				0%
						'22.3	'22.6		'22.9				'22.12		'23.3									'22.3			'22.6				'22.9		'22.12			'23.3
																																														Unit : Millions of yen (YOY)
									As of			2022.3.31		2022.6.30						2022.9.30						2022.12.31							2 0 2 3 .3 .3 1
																%						%										%									%															%
	Inventories								56,562	55.3	65,176	55.2					64,290	42.0				61,394	20.6					60,650					7.2
	Current Assets					187,258	4.5	202,614	10.2					206,351	16.6			200,554	8.1					196,756					5.1
	Current Liabilities						18,478	4.9	21,095	8.5					20,724	12.8				21,442	1.4					17,782					-3.8
									Current Ratio ( % )			1,013			960						996							935								1,106
	Net Assets							267,979	7.5	286,098	12.6					291,362	15.2			280,175	7.8					283,622					5.8
	Total Assets					292,094	7.2	312,000	11.7					317,040	14.3			307,786	7.7					308,066					5.5
									Equity Ratio ( % )			91.7			91.7						91.9							91.0								92.0

Cash Dividend per Share

• Interim ■ Year-end

（Yen）														Unit ： Yen
160											Fiscal Term	2020	2021	2022	2023
											Forecast
			135.0		135.0		135.0
120				115.0							Interim	67.0	57.0	67.0	67.0
		68.0		68.0	68.0			Cash Dividend	Year-end	68.0	58.0	68.0	68.0
				58.0
80									per Share
											Annual	135.0	115.0	135.0	135.0
40											(Special Dividend)	(105.0)	(85.0)	(105.0)	(105.0)
	67.0	57.0	67.0	67.0
										Payout Ratio ( % ) (Consolidated)	99.5	53.1	61.1	73.3
0
	2020	2021	2022	2023
						Forecast

Factbook Q1 2023

3

Capital Expenditures and R&D Expenses

（Millions of yen）	Capital Expenditures					（Millions of yen）	Depreciation and Amortization
7,500							7,021		7,500
			6,169
																				5,674		5,959
																			5,043
																4,622
5,000									5,000			4,357
				3,592
3,874	3,452
2,500									2,500
0										0
	'20.2ndHF	'21.1stHF	'21.2ndHF	'22.1stHF	'22.2ndHF			'20.2ndHF	'21.1stHF	'21.2ndHF	'22.1stHF	'22.2ndHF

					■ R & D Expenses -◆- R & D Expenses / Net sales											R & D Personnel
（Millions of yen）																	（Number of Employees）
5,000																					5%	600
								4.2%																482			496	500
																									481
													3.6%													466
4,000																3.5%			4%
			3.3%
					2.8%										400
3,000							2,767					3,010		3%
		2,248								2,564
							1,944
2,000																				2%	200
1,000																					1%
0																					0%			0
	'20.2ndHF	'21.1stHF	'21.2ndHF	'22.1stHF	'22.2ndHF				'20.2ndHF	'21.1stHF		'21.2ndHF	'22.1stHF	'22.2ndHF
																																						Unit : Millions of yen (YOY)
									Fiscal Term	2020.2ndHF		2021.1stHF			2021.2ndHF	2022.1stHF	2022.2ndHF		2022 Full Year	2023 Projection
													%			%					%					%		%				%		%
	Capital Expenditures	3,874		-59.8		3,452	-10.6	6,169	59.2	3,592			4.1	7,021	13.8		10,614	10.3	15,091	42.2
	Depreciation and Amortization	4,357		4.8		4,622	7.7	5,043	15.8	5,674			22.8	5,959	18.2		11,634	20.4	12,440	6.9
	R & D Expenses				2,248		-9.8		1,944	-11.8	2,767	23.1	2,564			31.9	3,010	8.8			5,574	18.3	6,671	19.7
	R & D Expenses / Net Sales ( % )	3.3				2.8						4.2			3.6				3.5					3.6			3.9
								R & D Personnel	481		0.4		466	-4.3	482	0.2	496			6.4	500	3.7			500	3.7	537	7.4
					(Number of Employees)

Number of Employees

(C o n so l i dat e d)Unit ： Number of Employees (Ratio) (YOY)

As of	2020.12.31		2021.6.30		2021.12.31		2022.6.30		2022.12.31
		%			%		%		%		%			%		%		%		%			%
Production Division	19,849	92.4			-2.7	19,837	92.5		3.9	19,273	92.2			-2.9	18,788	92.0		-5.3	18,614	91.9			-3.4
Sales Division	253	1.2			-1.2	251	1.2		-2.0	247	1.2			-2.4	259	1.3		3.2	259	1.3			4.9
R & D Division	602	2.8			-2.3	578	2.7		-7.2	596	2.9			-1.0	615	3.0		6.4	615	3.0			3.2
Administrative Division	773	3.6			-2.8	778	3.6		-2.3	778	3.7			0.6	768	3.8		-1.3	760	3.8			-2.3
Total	21,477	100.0			-2.6	21,444	100.0		3.3	20,894	100.0			-2.7	20,430	100.0		-4.7	20,248	100.0			-3.1
(No n - Co n so lidat e d)
As of	2020.12.31		2021.6.30		2021.12.31		2022.6.30		2022.12.31
						%					%						%					%						%
Total	851					0.2	836				-3.6	836					-1.8	843				0.8	827					-1.1

4	Factbook Q1 2023

Motor Sales by Application / Motor Sales Quantity by Application

								■ Automotive Products			■ Life & Industrial Products
（Millions of yen）
															42,657		42,131
40,000																							38,800
						36,730
35,175
30,000
20,000
10,000
		0
			'22.Q1			'22.Q2					'22.Q3			'22.Q4		'23.Q1
Motor Sal es																															Unit : Millions of yen (Ratio) (YOY)
Fiscal Term		2022.Q1				2022.Q2				2022.Q3					2022.Q4						2 0 2 3 .Q 1
					%	%			%		%		%	%				%	%		%	%
Automotive Products		25,804	73.4	-3.4	26,696	72.7		8.1	32,142	75.3	40.7		32,413	76.9	35.1	30,330	78.2	17.5
Life & Industrial Products		9,371	26.6	7.6	10,033	27.3		9.6	10,515	24.7	14.5		9,718	23.1	5.1	8,470	21.8	-9.6
Total Sales		35,175	100.0	-0.7	36,730	100.0		8.5	42,657	100.0	33.2		42,131	100.0	26.8	38,800	100.0	10.3
Motor Sal es Quanti ty																																	Unit : In Millions (Ratio) (YOY)
Automotive Products		237	72.0	-9.2	221	70.5		-6.8	248	73.1	15.5		245	76.0	10.5	236	76.4	-0.4
Life & Industrial Products		92	28.0	-10.1	92	29.5		-12.2	91	26.9	-12.7		77	24.0	-20.7	72	23.6	-20.9
Total Sales		329	100.0	-9.4	313	100.0		-8.5	340	100.0	6.3		322	100.0	0.9	309	100.0	-6.2
A verag e Sal es Pri ce																																				Unit : Yen
Fiscal Term		2022.Q1				2022.Q2				2022.Q3					2022.Q4						2 0 2 3 .Q 1
Automotive Products				108.68					120.72						129.11						132.18							128.30
Life & Industrial Products				101.66					108.18						114.86						125.51							116.20
Total Sales				106.72					117.02						125.28						130.58							125.45
A verag e Ex chang e R ate																																				Unit : Yen
US$ :				116.20					129.57						138.37						141.59							132.34
																																Unit : Millions of yen (Ratio) (YOY)
						Fiscal Term							2022 Full Year												2023 Projection
																		%			%													%			%
			Automotive Products			117,056					74.7			19.1				130,414						75.4			11.4
Motor Sales		Life & Industrial Products			39,639					25.3			9.2				42,585						24.6			7.4
				Total Sales					156,696					100.0			16.5				173,000						100.0			10.4
																																		Unit : In Millions (Ratio) (YOY)
			Automotive Products			952					72.9			1.8				1,003						74.3			5.3
Motor Sales Quantity		Life & Industrial Products			353					27.1	-13.8				346						25.7			-2.1
				Total Sales					1,306					100.0			-3.0				1,350						100.0			3.3
																																					Unit : Yen
						Fiscal Term							2022 Full Year												2023 Projection
			Automotive Products							122.86												129.94
Average Sales Price		Life & Industrial Products							112.00												122.95
				Total Sales									119.92												128.15
Average Exchange Rate				US$ :									131.43												135.00

Factbook Q1 2023

5